Preparing for Retirement

In contemplating your retirement it is prudent to ensure that all your affairs are in order.

Ensuring that you have affairs in order has advantages in that:-

a) whilst you are dealing with your affairs, you have a clear idea of what monies and investments you have, and what needs to be considered in respect of such monies and/or investments (for example, you may have an investment in respect of which you are permitted to appoint a beneficiary which you may have overlooked doing so alternatively, your appointed beneficiary may have predeceased you).

b) Should you become incapable of managing your affairs either temporarily or permanently due to physical or mental incapacity, your affairs are now in order and can easily be dealt with on your behalf.

c) Should you die, your surviving spouse and/or your family members are more easily able to instruct your executor in respect of all aspects of your affairs to facilitate a more efficient administration of your estate.

d) If you are married, you are able to assess whether  that your remaining spouse has sufficient monies to tide him/her over until such time as the surviving spouse’s pension has been processed and/or the estate has collected sufficient monies to enable funds to be advanced to the surviving spouse for maintenance


It is of benefit to ensure that the following information is in a place which is known to your immediate family members and/or close friends, particularly if you have no immediate family:-

1. A schedule of your banking accounts, including the bank, the type of account, and the account numbers, and whether anyone has signing powers on those accounts, and if so, whom.

2. If applicable, a current print out of your insurance/investment portfolio indicating appointed beneficiaries.

3. The whereabouts of your original policy documents.

4. Details of who holds your original will, and a copy.

5. Your medical aid details, including your medical aid number, and its contact details.

6. Your pension details, including your pension number, and the contact details of your pension fund.

7. Contact details in respect of immediate family members, in particular names and addresses and contact numbers for your children, or a close family friend.

8. The whereabouts of your original title deed, if your property is not bonded or if bonded, those particulars.


In ensuring that your affairs are in order, you have the satisfaction of knowing that you have given all aspects of your affairs careful attention should the need arise.

  • Added 13 December 2010


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